Four Banks Fight Against Inflation

Four Banks Fight Against Inflation

It will be the hottest week of September, with four central banks’ meetings, five PMI releases, and a lot to trade. 

Economic calendar

The time zone is GMT+3. Check your time zone here. 

Monday: 

  • Holiday for the Bank of Japan

Tuesday: 

  • AUD 04:30, Monetary Policy Meeting Minutes
  • CAD 15:30, CPI, Medium, Trimmed, and Common CPI m/m

Wednesday: 

  • GBP 09:00, CPI y/y
  • USD 21:00, Federal Funds Rate, FOMC Statement
  • USD 21:30, FOMC Press Conference

Thursday:

  • NZD 01:45, GDP q/q
  • CHF 10:30, SNB Policy Rate
  • GBP 14:00, Official Bank Rate and Monetary Policy Summary
  • USD 15:30, Unemployment Claims

Friday: 

  • JPY (No exact time), BOJ Press Conference and Policy Rate
  • EUR 10:30, German Flash Manufacturing and Services PMI
  • GBP 11:30, UK Flash Manufacturing and Services PMI
  • USD 16:45, US Flash Manufacturing and Services PMI

News to keep you updated

  • European gas storage facilities are 94% full, not a record high for this time of year but a decent level in the face of another winter. 
  • Risk appetite for the treasury market is at historical highs. Moreover, risk-on sentiment is near the highest point for the stock market. It indicates bulls are in control of the US market. 
  • Chinese stock index HK50 is down 2.3% since Friday. Bloomberg says the reason is another drop in property shares. 
  • As the US strategic oil reserves are on historical lows and oil price is moving closer to $100, we may expect a short-squeeze in the XTI (WTI) and XBR charts.
  • Rumor has it that the current SEC CEO (Garry Gensler) wants to approve several crypto ETFs to get a job in one of these funds after he retires. 

Gold analysis for the week ahead:

The metal made an astonishing 2500-point upside move at the end of the last week. The resistance of $1931 seems like a sweet spot for the price.

We would like to see a correction near $1920 and then look for Buy trades with targets at resistances above. 

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Have a profitable week!

 START TRADING

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